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Hunt Gold Corporation -- Sale and Share Buyback Company in Discussions to Sell "Molygold" Interests and Effect a Share Buyback Jul 11, 2008 11:36:00 AM View Additional ProfilesNEW YORK, NY -- (MARKET WIRE) -- 07/11/08 -- Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed on July 10, 2008 that certain Investment Groups had now assumed voting control of the Company.
The Board of Directors advises its stockholders that with the assistance of these Investment Groups, the Company is in discussions to dispose of its recently acquired "Molygold" assets.
The intention is to utilize the proceeds from the sale of these "Molygold" interests to effect a share buyback of the Company's "free float" of Common Stock.
These Investment Groups whom have voting control over the Company have informed the Board, as announced on July 10, 2008, that they are also considering a limited Tender Offer to stockholders in order to acquire additional shares of the Company's Common Stock in an attempt to reduce the amount of shares in the Company's "free float."
These Investment Groups and other significant stockholders in the Company are now determined to unlock value from the Company and to eliminate the discount between the Company's stock price and its Net Asset Value per share.
The Company's Management is proceeding with its plans to file the requisite documentation with the SEC, in order to make the Company "Reporting" with the SEC, as previously announced.
Stockholders will continually be advised accordingly; as your Company's Management becomes aware of further details and developments.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
For further information contact: Hunt Gold Corporation E Mail: Email Contact Telephone: (954) 840-6956 Mr. Michael G Saner
m69jump
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news today it's gonna run hard.....
tomah
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I tried to buy this today on E-trade, but they wouldn't accept my trade online for this company, and said I would have to call in. I've never had that happen before - could some explain why this would happen. (it wasn't because I didn't have enough money LOL).
Hitman
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The reason you couldnt buy was because basically e-trade is seeing suspicious trading activity and doesnt trust the stock.
binnocent
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.005 now.
Looking for an afternoon run on todays news and chart. Thinking a double by tomorrow. IMO
binnocent
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.006 getting some hits now. Hoping for an afternoon push and morning gapper!
binnocent
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2nd news release today. More news in the AM. Ride the wave! IMO
Hunt Gold Corporation -- Increase in Bid Price Company Advises That Bid Price in Hostile Takeover Is to Be Increased
Last update: 1:37 p.m. EDT Aug. 7, 2008 NEW YORK, NY, Aug 07, 2008 (MARKET WIRE via COMTEX) -- Hunt Gold Corporation (PINKSHEETS: HGLC) can confirm that the Private Equity Group intends to increase its bid price in order to obtain control of the Company. The Private Fund has undertaken to advise us late today as to what price per share they intend to increase their offer from their current bid price of US$0.025 per share. This will be announced prior to the market open, in the morning. The Private Equity Group now holds an amount of 93,150,103,500 shares of the Company's stock, amounting to 31.7% of the Company's Common Stock. Based upon the non acceptance of the current bid price by a number of substantial stockholders, The Board of Directors believe that this Private Equity Group will have to substantially raise their offer price should they wish to assume control of the Company. The Private Equity Group has confirmed that they are seeking to acquire all of the outstanding shares of this Company's Common Stock; and to then merge it with another Gold Company already under their control. ABOUT HUNT GOLD CORPORATION Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests. The Company is completing the sale of its "American Molygold" interests. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC. For further information contact: Hunt Gold Corporation E Mail: Email Contact Telephone: (954) 840-6956 Contact: Mr. Michael G Saner
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